Daniel Hannan at the UK Telegraph—the headquarters of anti-EUism—restates the theme (echoed several times at VFR) that the only way for Greece to recover is to leave the euro and devalue its currency. Not that such recovery will be easy or quick:

All [Greece’s] futures are clouded. But reissuing the drachma at least offers the prospect of eventual growth. Remaining in the euro guarantees a generation of poverty and emigration.

Brussels officials and Greek politicians talk of leaving the euro as some terrible punishment to be visited upon the unhappy Hellenes. In truth, it is their last shot at recovery.

But, he points out, the EU officials and politicians refuse to see this, because if Greece leaves the euro, other countries will follow, and if other countries follow, monetary union is finished, and if monetary union is finished, the EU project is finished, and if the EU project is finished, the entire meaning and purpose of the EU officials’ existence, including their prestigious positions and cushy incomes, is finished. Posted by Lawrence Auster at February 16, 2012 04:11 PM | Send